LYB Options Chain Analysis

As of previous close (2026-09-18) · OPRA historical data

Spot $64.38 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

2.07

114k P / 55k C

Put/Call (Volume)

1.58

3k P / 2k C that session

30d ATM IV

40%

annualized implied move

Call wall

$70

10k contracts

Put wall

$60

32k contracts

Tail hedging

2.3×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 2.07 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $70 (10k contracts), 9% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $60 (32k contracts), 7% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.3× deep-OTM call OI — an institutional hedging ladder sits under this stock.

Open interest by strike

All expiries combined. Amber lines mark the call and put walls; the dashed line is spot.

IV term structure

At-the-money implied volatility per expiry.

Volatility smile

IV by strike — expiry 2026-10-16. A steep left side = expensive downside protection.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	4k	24k	6.34	2k
2026-11-20	11	0	0.00	11
2026-12-18	7k	4k	0.54	145
2027-01-15	12k	24k	2.06	28
2027-03-19	3k	18k	5.43	8
2027-06-17	757	1k	1.33	1
2027-09-17	169	78	0.46	0
2027-12-17	2k	4k	1.87	7
2028-01-21	4k	4k	1.14	15
2029-01-19	82	40	0.49	12

Source: Cboe end-of-session option chains, summarized after each US market close and published from the following trading day — OPRA historical data. Under the OPRA plan options data becomes historical, and freely publishable, at the opening of the next trading session; data from the session in progress is never displayed or served here. Open interest is exchange-reported once a day. Research, not investment advice.